- The Abu Dhabi National Oil Company (ADNOC), the 12th largest oil producer in the world with 3 million barrels/day production, signed a partnership agreement with US-based Honeywell to launch one of the largest predictive maintenance projects in the oil and gas industry. ADNOC will deploy Honeywell Forge Asset Monitor and Predictive Analytics solutions at its Panorama Digital Command Center in its headquarters. The software platform which leverages AI technologies such as machine learning and digital twin software is expected to reduce unplanned equipment maintenance, improve reliability and safety across its upstream and downstream operations and contribute to substantial cost savings for ADNOC.
- Navigant Research released a new whitepaper, “Leveraging Digital Twin Approach for Sustainable Manufacturing”, which explores how digital twin technology would help the industry to improve sustainability and efficiency. According to the report, digital twins can help companies’ sustainability efforts through better monitoring of energy, water consumption and waste production in their manufacturing processes, and at the same time, facilitate innovative product design. “Implementing digital twins does not necessarily require new tools but rather a new approach for managing and using data,” said Rafael Go, a senior research analyst with Navigant Research.
- Nokia and National Service for Industrial Training of Brazil (SENAI-SP) launched a partnership to boost Industry 4.0 adoption in Brazil. Under the partnership, SENAI-SP Lab in São Paulo state will provide training and testing facilities to accelerate Industry 4.0 adoption in Brazil and Nokia will provide its suite of connectivity solutions and digital automation cloud to enable greater connectivity across industries which accounted for 21% of the total employment in 2017.
- ABI Research conducted an assessment to quantify the costs and business benefits of adopting Industry 4.0 applications. A Tier 1 automotive factory in South Korea, for example, can reduce operational costs by about USD 245.5 million in 2021 to 2025 by moving to cellular-based Industry 4.0 applications. Overall, the research, commissioned by Ericsson, found that moving to private cellular networks have the potential to boost gross margin by 5% to 13% for factory and warehouse operations over 5-10 years. Canadian startup company HaiLa, which offers technologies that can drastically reduce energy consumption for IoT devices, has won the 2019 Nokia Open Innovation Challenge. This year’s Nokia Open Innovation Challenge sought out startups with disruptive ideas in industrial automation categories that would help bring about Industry 4.0. According to a new report by Fortune Business Insight, the global industrial automation market size, which was valued at $157.04 billion in 2018, is projected to reach 296.70 billion by 2026, growing at a rate of 8.4% CAGR.
The Abu Dhabi National Oil Company (ADNOC),signed a partnership agreement with US-based Honeywell to launch one of the largest predictive maintenance projects in the oil and gas industry.